Philippines Market Insights 2017.12.1
フィリピン株式ニュースハイライト
News Highlights: San Miguel Corporation (SMC) will join the bid for 54% of Vietnam’s biggest brewery, Saigon Beer Alcohol Bev. Corp. (Sabeco), maker of Bia Saigon & 333 beers. Metro Pacific Investments (MPI)’s MPCALA Holdings aims to sign the P7.2bn contract for the Cavite segment of Cavite‐Laguna Expressway (CALAx) early 2018. Meanwhile, S&P upgraded its GDP outlook for the Phils. to 6.6% from 6.4%.
マーケットモニター
各国市場モニター
フィリピン株式市場動向
PHILIPPINES
Mart down, PSEi @8,254.03: The benchmark index closed lower by 37.85 points, with weakness coming from uncertainties regarding the tax reform program and geopolitical jitters from North Korea’s missile test which is claimed to be capable of reaching the US mainland. Industrial (-0.97%) and Property (-0.95%) sectors took the brunt. Among actively traded shares were: MER (+P2.00 at P315.00), JFC (‐P8.40 at P243.60), ALI (‐P1.20 at P42.80), BDO (+P1.10 at P146.00), and SMPH (unch. at P36.30), on 18.72bn turnover. Losers edged out gainers, 85-‐104, with net foreign inflows at P1.22bn.
Might teeter sideways: Mart might start the month on a good note following optimism from Wall Street and upbeat expectations before year-‐end, though some investors might continue to hold on or cash-‐in on gains made since the beginning of the year where the benchmark was doing below 7,000 points. Immediate support 8,170, resistance 8,350.
ASIA
Tech shares tumbled down: Most Asian markets closed lower on Thursday as oil prices firmed after falling in the last session. Tech stocks in the region declined after US shares in the sector sold off on Wednesday. Investors in the region also digested the official manufacturing PMI data out of China.
Shares lower on No.Kor jitters: Asian bourses closed broadly lower on Wednesday after North Korea launched another test missile near Japan’s waters, claiming it could reach the US mainland.
WALL STREET
Dow closes at record-‐high: US equities crossed above 24,000 for the first time on strong indications the tax cut plan will get enough support for passage.
Tech stocks sold off as financials rose: The Dow Jones industrial average closed at a record high as investors focused on momentum in the U.S. economy. The second estimate for third-‐quarter GDP was revised to 3.3% from 3%. It was also above the 3.2% expected by markets.
COMMODITIES
Oil prices rebounded: Crude oil prices climbed anew after OPEC and Russia said they are ready to extend production cuts. West Texas Intermediate (WTI) inched up $0.10 to $57.40/barrel.
Prices lower on uncertainty: Markets expect an agreement between oil producers to be extended, but some are concerned about Russia's commitment to extend those cuts. West Texas Intermediate (WTI) shed $0.40 to $57.30/barrel.
フィリピン国内各企業動向
SMC bids for Vietnam’s biggest brewery:
San Miguel Corporation (SMC) will join the bid for 54% of Vietnam’s biggest brewery, Saigon Beer Alcohol Bev. Corp. (Sabeco), maker of Bia Saigon & 333 beers. Minimum bid for Sabeco was placed at 320k dong (or $14.11/share)
EMP to issue shares to Singapore firm:
Emperador Inc. (EMP) will issue 122.4mn new common shares to Singapore-‐based Arran for P832.3mn (or P6.80/share) under its Equity Linked Securities (ELS) accord. The amount will cover accrued interest under the ELS.
FPH’s PECO under discussion for gov’t take over:
Consumer groups in Iloilo protested to end Panay Elec. Co.’s (PECO) franchise due to poor servicing & high tariffs. Councillor Gerochi has asked gov’t. to take over PECO until a qualified distributor comes in. PECO argued it has already addressed complaints. PECO is 30%-owned by First Philippine Holdings (FPH)
MPI's MPCALA to sign P7.2bn contract:
Metro Pacific Investments (MPI)’s MPCALA Holdings aims to sign the P7.2bn contract for the Cavite segment of Cavite-‐Laguna Expressway (CALAx) early 2018. This will start from Cavitex & end at SLEx-‐Mamplasan. Completion is slated 2020.
SMPH’s GFA increased to 8mn sqm:
SM Prime Holdings, Inc. (SMPH)’s mall GFA will rise to 8mn sqm., with the opening of its SM Centre Pullman, Bulacan mall on 01 Dec. (+27k sqm.).
GLO signed P7bn loan:
Globe Telecom Inc. (GLO) signed a 7-‐year, P7bn loan with Landbank to finance its $850mn capex.
MG to raise its authorized capital to P10bn:
Millenium Global Holdings, Inc. (MG) will have shareholders approve on 19 Dec. the purchase of 365.8mn shares by its president, Michael Yang, at P0.20, as the firm raises its authorized capital up to P10bn.
UDEVCO awarded P62bn reclamation proposal:
Dennis Uy’s Udenna Dev’t. Corp. (UDEVCO), Ulticon Builders & China Harbour Engineering was awarded by the Pasay City gov’t. for its P62bn reclamation proposal. Project will cover 265ha. of foreshore & offshore areas of Manila Bay in the Western part of Pasay City.
PNX soft opening for Singapore office:
Phoenix Petroleum Corporation (PNX) made a soft opening for its Singapore office for a full trading outfit. This will handle direct dealings with refineries & cut out middlemen. PNX aims to install 30‐50 new retail stations in 2018 from its present 500.
フィリピン経済指標
PH gets upgraded GDP forecast from S&P:
S&P upgraded its GDP outlook for the Phils. to 6.6% from 6.4%.
3 foreign firms submit proposal on $2bn LNG terminal:
Philippine National Oil Co. (PNOC), the corporate arm of the Department of Energy, has received three proposals from foreign firms to put up a $2bn liquefied natural gas (LNG) terminal — Korea Electric Power Corp. (KEPCO), Lloyds Energy Group and China National Offshore Oil Co. (CNOOC).
DOTr seeks Japanese aid in MRT 3 rehab:
Before the year ends, the Department of Transportation (DOTr) intends to bring back Japanese groups Sumitomo Corp. and its technical partner, Mitsubishi Heavy Industries, who used to be involved in the Metro Rail Transit Line 3 (MRT3) construction and design 18 years ago in a bid to resolve breakdowns that disrupt the journey of thousands of commuters on a near-‐daily basis.
PH outstanding debt reaches P6.5tn in 10 months:
Latest data from the Bureau of Treasury showed the gov’ts outstanding debt reached a record‐ high of P6.501tn ending the first 10 months, driven by weaker peso.
DTI raises manufacturing growth forecast:
the Department of Trade and Industry (DTI) is raising its target for the growth of the manufacturing sector starting next year to 10% in 2017 and 11% after, from earlier forecast of 8-‐10%
Metal production grows 6% in 9 months:
Metal production rose 6% to P81bn in the first nine months of the year primarily due to the increased metal demand of China, as per the Mines and Geosciences Bureau (MGB).
House may expand probe on SSS stock trading scandal:
House panel eyes expanding its investigation after lawmakers discover the lack of strict measures on the personal investments of officers.
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